Rising prevalence of sleep apnea disorder across the world coupled with growing geriatric population base should drive sleep apnea devices market size over the forecast timeframe. Lifestyle related change that causes cardiovascular diseases, unhealthy sleep patterns and postures, high stress levels and obesity will further spur industry growth.

Prevalence of sleep apnea is growing with age and obesity level among people. Adult population have consistent habit of snoring which leads to increasing incidence rate of obstructive sleep apnea. However, dearth of patient compliance and high cost associated with sleep apnea devices should restrain industry growth.

Advancements in technology for sleep apnea devices led to the development of various conventional therapies for treatment of sleep apnea. Furthermore, several companies are engaged in developing advanced devices which increases demand for such devices. Large untapped opportunities in emerging nations will boost industry growth over the forecast timeframe. Rising awareness regarding sleep apnea diseases among people and favourable reimbursement scenario will improve adoption rate of devices.

Sleep Apnea Devices Market, By Product

Diagnostics devices segment of sleep apnea devices market accounted for largest revenue share in 2016 and expected to maintain its position over the forecast period. Increasing demand for early diagnosis and growing patient awareness levels is expected to improve usage rates of diagnostic devices over the forecast period.

Therapeutic oral appliances market size will witness robust growth over the forecast timeframe. Thus, rising usage of oral appliances for patients, as it is highly-recommended for people suffering from mild to moderate obstructive sleep apnea and also for patients facing discomfort with CPAP therapy will increase demand for the product.

Actigraphy systems should witness significant growth over the forecast timeframe. The growth is attributed due to increasing usage rates and cost-effective device. Furthermore, Actigraphy system monitors sleep and wake pattern or circadian rhythm of patients. Polysomnography (PSG) devices should contribute for lucrative growth due to development of advanced technology products.

Sleep Apnea Devices Market, By Region

U.S. sleep apnea devices market accounted for largest regional share in 2016, due to high prevalence of sleep related diseases, advanced healthcare services, increased investment in R&D and presence of advanced technology products in the country. Moreover, presence of Medicare reimbursement policies for therapeutic devices such as CPAP (Continuous Positive Airway Pressure) device will boost sleep apnea devices market size over the forecast period.

Germany sleep apnea devices market should witness robust growth over the forecast period. Increasing prevalence of sleep disorders and early detection and diagnosis of diseases should drive industry growth. Rising awareness among patients and caregivers, growing number of cardiovascular diseases, presence of technologically advanced therapeutic and diagnostic devices will further upsurge sleep apnea devices market size.

China sleep apnea devices market held significant revenue share in 2016, due to rising disposable income, increasing sleep disorder because of changing diet and lifestyle pattern. Changing eating habits of people in the country should drive industry growth. As per WHO, China represents second highest number of people with obesity in the world. World Obesity Federation anticipated that China will have most obese children in the world by 2025. Such factors will increase number of sleep related disorder and stimulate demand for the product.

Brazil sleep apnea devices market size should witness lucrative growth over the forecast period. The growth is attributed due to increasing prevalence of sleep apnea, and other respiratory disorders, obesity and increasing number of smokers in the country.

Competitive Market Share

Some of the companies operating in sleep apnea devices market includes Philips, Braebon Medical, Compumedics, ResMed, GE Healthcare, Cadwell Laboratories, Invacare, Carefusion and Fisher & Paykel Healthcare. Increased focus on R&D activities for developing innovative products and strategic initiatives such as merger & acquisition and new product launch is the major strategy adopted by these players to maintain their market position. For instance, In May 2017, Philips signed acquisition agreement with Respiratory Technologies, Inc. The acquisition will expand Philips sleep and respiratory care business.

The industry is highly competitive due to the presence of established players. Some of the substitutes for sleep apnea include tongue retracting devices, jaw repositioning devices and tissue removal systems. These substitutes may hinder industry growth. Increasing investment in research and development activities by industry players to launch novel products is the major focus of companies. Innovative devices include winx sleep-therapy system and compact sleep apnea devices aid patient compliance due to comfort provided by the devices. Industry players are also focussing on merger and acquisition strategies for the expansion of their presence in emerging markets such as Brazil, India and China. Rapid technological advancements, growing geriatric population base and increasing prevalence of sleep apnea will provide potential growth opportunities for the industry in future.